Copper Scrap Prices: Weekly Market Report- November 8, 2024

The LME Copper Cash Settlement contract inched higher marginally from $9,250.50 a day before to $9,386.00 per tonne.

SEATTLE (Scrap Monster):The below report provides details about the weekly price trends of scrap copper across various regional markets during the past week (November 1 to November 7, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region displayed mixed trend.

Majority of scrap varieties declined over the previous week. While a few held steady, others recorded marginal increase week-on-week.

Cu/Al Radiator Ends saw the largest price decrease over the previous week, going down from $0.59 per pound to $0.57 per pound.

The weekly price movement for Cu/Al Radiator Ends is shown in the below graph:

The other copper scrap varieties to record decline in prices include Alternator, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Sealed Units, Starters, Cu/Al Radiators, Cu/Al Radiators/Fe and Copper Radiators.

The prices of #1 Insulated Copper Wire 85% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors and Xmas Lights were unchanged over the week.

On the other hand, #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #3 Copper- Light Copper and Cu Yokes prices recorded week-on-week increase in prices during the week ending November 7, 2024.

USA East Coast Prices

The majority of copper scrap categories recorded decline in the region. The largest decline was seen in Cu/Al Radiator Ends, whose prices were down by 3.39% over the week. The prices of Sealed Units and Starters also were down by 2.63% and 2.56% respectively.

The least decline in prices was recorded in Cu/Al Radiators. The prices of the commodity edged lower by 0.58%, falling from $1.71 per Lb at the start of the week to end the week at $1.70 per Lb. The below chart displays the variation in prices of Cu/Al Radiators over the previous week:

The #3 Copper-Light Copper prices recorded the biggest increase, rising by 1.81% week-on-week.

#1 Insulated Copper Wire 85% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors and Xmas Lights prices were flat on the Index.

USA Midwest Prices

The copper scrap prices in the region displayed mixed trend over the previous week.

The top three losers were Cu/Al Radiator Ends, Sealed Units and Starters.

The Cu/Al Radiator Ends prices ended the week at $0.56 per Lb, down from the previous week’s price of $0.58 per Lb. Also, Sealed Units and Starters prices declined over the previous week to close at $0.36 per Lb and $0.37 per Lb respectively.

The other copper scrap varieties to record decline in prices include Alternator, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu/Al Radiators, Cu/Al Radiators/Fe and Copper Radiators.

The prices of #1 Insulated Copper Wire 85% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors and Xmas Lights were flat over the week.

In contrast, the prices of #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper jumped week-on-week.

USA West Coast Prices

#1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #3 Copper- Light Copper and Cu Yokes prices reported marginal increase during the week.

#1 Insulated Copper Wire 85% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors and Xmas Lights prices witnessed no change over the previous week.

In the meantime, Alternator, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Sealed Units, Starters, Cu/Al Radiators, Cu/Al Radiators/Fe, Cu/Al Radiator Ends and Copper Radiators prices were down marginally over the prior week.

China Prices

Most of the categories of copper scrap held steady on the Index. Some displayed increase in prices when compared with the previous week.

#2 Insulated Copper Wire 50% Recovery and Cu/Al Radiators recorded the largest increase during the previous week, with these scrap varieties edging higher by 0.20% and 0.19% respectively.

#2 Insulated Copper Wire 50% Recovery prices recorded marginal increase from CNY 25,100 per MT to CNY 25,150 per MT during the previous week. The weekly price char of the commodity is provided below:

Also, the prices of Heater Cores were up by 0.16%, when compared with the week before.

All other scrap categories held steady on the Index.

India Prices

The scrap commodities in Indian market recorded decline from the previous week's price levels.

The copper sheet cutting prices dropped by INR 2,000 per Ton to INR 507,000 per Ton over the prior week. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap, and Copper wire bars (HCL*) too witnessed marginal decline during the week ending November 7, 2024.

Europe Prices

The prices of all copper scrap commodities such as #1 Copper Bare Bright, #1 Copper Wire and Tubing, #1 Insulated Copper Wire 85% Recovery, #2 Copper Wire and Tubing, Braziery Copper, Copper Dry Bright, Copper radiators, and Copper Tubes were steady during the course of the week.

The chart provided below depicts the weekly price change in Copper Tube:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 9,529.00 per tonne as of November 7, 2024. The LME Copper Cash Settlement contract inched higher marginally from $9,250.50 a day before to $9,386.00 per tonne.

The LME Copper stocks declined marginally over the previous day to close at 272,525 tonnes as of November 7, 2024, when compared with 272,550 tonnes a day before.

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